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RBI seeks more powers against NPAs

DNMUM416133 | 6/14/2018 | Author : Edit | WC :215 | Opinion & Viewpoint

DNA MONEY EDIT

Reserve Bank of India (RBI)’s request to the government to withdraw its nominees from bank Boards stems from growing concerns over “conflict of interests”. It assumes importance at a time when banks are reeling under huge pile-up of bad loans and increasing number of frauds. The central bank nominates a director -- either a serving or a retired executive -- to each bank generally, and more than one member when the banks are in trouble.
While former RBI governor Raghuram Rajan proposed a similar move during his tenure, a committee headed by PJ Nayak in 2014 was not in favour of such a move. The main role of any director on the Board is to ensure that the bank is efficiently and professionally managed, and that the proposal coming
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